The world of luxury electric cars has so far largely been dominated by Tesla. However, it can be quite difficult to accurately gauge Tesla's sales performance as for many years, there simply weren't enough options in the luxury electric car market. More importantly, until pretty recently, Tesla didn't sell all that many cars globally, making the sample size small. To accurately gauge Tesla's positioning against its rivals, we will have to look at a market like Norway, which is currently the top EV adopting nation in the world, with a lot of EV competition and where over half of new cars sold are EVs.
EV sales made up for 60.4% of all new cars sold in Norway in May 2021, as per the Norwegian Road Federation, which is up by 43.1% from May 2020. This only suggests that the EV market is already well-developed in Norway with lots of players competing with each other. In fact, Norway seeks to become the first country to fully ban the sale of petrol and diesel cars by 2025. So where does Tesla stack up in such an EV competitive market? Well, it's certainly not the outright leader, as the Ford Mustang Mach-E was the best selling car in Norway in May 2021, selling more than double the units of the Tesla Model 3.
In fact, Tesla was only able to secure sixth position with the Model 3, of which 504 units were sold. Meanwhile, the Ford Mustang Mach-E sold 1,384 units in May 2021. Now some of that could be attributed to the Mustang Mach-E being a new model there, but that wasn't the only EV to beat the Tesla Model 3 last month. In fact, the Model 3 was even beaten by a couple of hybrid and regular ICE models in a country that is predominantly going electric. The Ford Mustang Mach-Es made up for 10% share of Norway’s overall car market, ahead of Toyota’s RAV4 hybrid SUV and Skoda’s electric Enyaq.
|Top Selling Cars May, 2021||Units||Top Selling Cars April, 2021||Units|
|Ford Mustang Mach-E||1,384||Volkswagen ID.4||1,824|
|Toyota RAV4||853||Toyota RAV4||890|
|Skoda Enyaq||795||Volvo XC40||858|
|Volkswagen ID.4||774||Audi e-Tron||668|
|Volvo XC40||736||Polestar 2||469|
|Tesla Model 3||504||Mercedes-Benz EQC||378|
|Mercedes-Benz EQC||492||Skoda Enyaq||336|
|Audi e-Tron||447||Nissan Leaf||313|
|Toyota Corolla||319||Toyota Corolla||303|
|Peugeot 2008||298||Hyundai Kona||272|
Here's a look at the top selling cars in Norway in the month of May and April. One can say that sales statistics of one month means very little, which is true, but a look at the top selling cars in April 2021 reveals that Tesla didn't even crack the top ten. What is evident from this is that Tesla is clearly not the dominant EV maker in a market where there's competition and where people primarily buying new cars are buying EVs. And it's not like people's taste in cars are any different in Norway than the rest of the world, but this is what it looks like when some real competition for Tesla shows up.
In contrast, the Tesla Model 3 was the best selling car in Norway in the entire of 2019, but that was a time when the Volkswagen ID.4 did not exist and the Ford Mustang Mach-E hadn't made it to Norway yet. That said, there's still enough room for Tesla to grow in places that aren't Norway. This isn't some kind of existential business concern, but it does give us solid proof that there is a market out there for a non-Tesla electric vehicle, and a pretty robust one. With the highest EV adopting nation in the world giving us a preview about that, there's more to look forward from EVs in the future.